China and Southeast Asian markets are major opportunities for growth, but the speed of change is a challenge to marketers whose current ways of working may not be optimized for the complex future that is unfolding; R3’s Greg Paull offers some advice in The WARC Guide to structuring for marketing effectiveness.
This month, The WARC Guide looks at some of the key structural considerations for brand marketers looking to drive more effective marketing – a topic that is more relevant than ever, given the impact of COVID-19 and looming recession. (Subscribers can read the full report here.)
The rising standard of living in countries across China and Southeast Asia has created significant demand for products and experiences, which in turn provide companies with a myriad of opportunities to extend their reach and nurture loyalty with new customers.
The chance to “break new ground” with creativity and innovation is an exciting proposition, Paull acknowledges, while cautioning that “there is also a degree of complexity that any organization that operates in developing high-growth markets needs to pay heed to”.
For example, he notes that the average agency relationship in China is two years and 10 months – 1.5 years shorter than the global average – partly because of the aforementioned speed of change: “the faster the changes in the market, the more important having the right skillset becomes.
“When the focus of engagement changes from PR to experiential or social, finding an agency with the right insights, the right tools and best practice becomes all important.” (Read more about the four key areas marketers need to address in Greg Paull’s article: Structuring for effectiveness in high-growth markets.)
Accommodating a requirement for flexibility is something marketers need to build into agency partnerships, Paull advises.
“This can be done by developing an agency model that is based on market study and takes into consideration an organization’s goals and challenges. This will ensure that agency roles are clearly defined and there are no overlaps in scope, resources and fees.”
WARC subscribers can register for an exclusive webinar in which Lucinda Peniston-Baines and Rob Foster of Observatory International discuss Structuring Marketer - Agency Partnerships for Effectiveness. This takes place on Wednesday 22nd April, 3:00pm BST / 10:00am EDT.
The WARC Guide is a compilation of fresh new research and expert guidance with WARC’s editorial teams in New York, London, Singapore and Shanghai pulling in the best new thinking globally. It also showcases the best on WARC – case studies, best practice and data sourced from across the platform.
Sourced from WARC